CIF/FOB Gulf Grain — Corn, soy barge bids ease as Midwest harvest advances

CHICAGO, Oct 12 (Reuters) — Basis bids for corn and soybeans shipped by barge to the US Gulf Coast declined on Monday as the Midwest harvest expanded following days of favorably dry weather, steering fresh grain supplies into marketing channels that feed the Gulf, traders said. Farmers focused on harvesting soybeans over the last week and the harvest of the oilseed was winding down in some areas as growers shifted to corn, brokers said. CIF Gulf corn barges loaded in October were bid at 69 cents over CBOT December corn futures, down 3 cents from Friday, and November corn barges were bid at 85 cents over futures, down 2 cents. FOB export premiums for Gulf corn vessels loaded in November were offered at 104 cents over CBOT December futures. For soybeans, CIF barges loaded in October were bid at 80 cents over CBOT November soybean futures, down 1 cent from Friday, while barges loaded in the last half of October traded at 90 cents over futures. FOB export premiums for Gulf soybeans loaded in November were offered at around 119 cents over futures. The US Department of Agriculture's weekly export inspections and crop progress reports were delayed until Tuesday due to Monday's federal hol